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Financial Planning > Behavioral Finance

The Value of Community Outreach

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There seems to be a great deal of potential to train more Hispanic, African-American, and other financial advisors who are attuned to the culture of the community where they grew up. But advisors of any background might consider setting up a branch office in a minority neighborhood. If consulting a financial advisor became a visible sign of affluence, more young Latinos and blacks might see it as an alternative to spending on flashy cars and sartorial bling.